Deere Faces a Lean Harvest

While it would have been unkind to wish for a drought or a swarm of locusts, Deere & Co. shareholders weren't exactly thrilled by Tuesday's "good news."

The U.S. government's update on the size of major grain crops said corn production and yields would likely both break records in 2014. That will add to a glut that pushed the price per bushel to a four-year low last week. Despite higher volumes, lower prices will cut...